Eurozone: GDP grew by 0.2% QoQ in 3Q14 (BBVA Research: 0.1% QoQ; consensus: 0.1% QoQ). The preliminary estimate of GDP shows that the quarterly growth in the eurozone was moderate, but somewhat higher than expected (0.2% QoQ, but very close to 0.1% QoQ). This surprise is explained by a better-than-expected performance of the French economy, while Germany and Italy were in line with expectations. Although the breakdown of GDP has not been published yet, national data and our forecast point to
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